Hyflux sells stakes in two joint ventures with Marmon Water

Water treatment firm Hyflux is shedding two partnerships with Marmon Water as it slims down to focus on its core business.

The company said it will sell its 50 per cent interest in Hyflux Marmon Development to Marmon Water Singapore (MWS), an affiliate of Marmon Water, for a total cash consideration of US$43.4 million ($55.1 million).

Marmon Water holds the other 50 per cent equity interest in Hyflux Marmon Development.

The joint venture firm is primarily engaged in research and development work on water treatment technologies, with a focus on combined membrane and media filtration.